The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Feb. 01, 2022
Filed:
Nov. 26, 2019
Flexa Network Inc., New York, NY (US);
Zachary Kilgore, Brooklyn, NY (US);
Tyler Robert Spalding, New York, NY (US);
Trevor Filter, New York, NY (US);
Flexa Network Inc., New York, NY (US);
Abstract
A method includes initiating, by a payor computing device, a financial transaction to send payment of a particular amount to a payee computing device using a first cryptocurrency. The payee computing device accepts a desired currency. The method further includes placing a hold on an amount of collateral cryptocurrency based on a request to process the financial transaction. The method further includes sending, by the payor computing device, a first amount of the first cryptocurrency equal to the particular amount to the cryptocurrency acceptance network computing device, converting, by a cryptocurrency exchange device, the first amount of the first cryptocurrency to an amount of the desired currency equal to the particular amount, and sending the amount of the desired currency to a payee banking computing device. The method further includes seeking a desired number of confirmations of the first amount of the first cryptocurrency from a consensus network. When the desired number of confirmations is completed, the method further includes releasing the hold on the amount of the collateral cryptocurrency.